User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Monday June 9, 2008 - 10:46:32 GMT
Trade the News Staff - www.global-view.com/forex-services/TTN/

Share This Story:
| | Email

Forex Blog - European Market Update: The Euro Breaks 1.58; German 2/10 Spread Inverts Further



·*** ECONOMIC DATA ***

·SZ May Unemployment Rate: 2.4% v 2.5%e

·SZ May Unemployment Rate sa: 2.5% v 2.5%e || Prior revised from 2.6% to 2. 5%

·GE Apr Trade Balance: €18.7B v €15.6Be || Prior revised from €16. 7B to €16.6B

·GE Apr Current Account: €14.5B v €14.7Be || Prior revised from €17.2B to €17.5B

·GE Apr Imports: -2.1% v 0. 2%e

·GE Apr Exports: 1.2% v 0.5%e

·SW May Budget Balance [sek]: 13.5B v 23.3B prior

·UK May PPI Input: M/M 3.8% v 2.6%e || Prior revised from 2.4% to 3.2% |||| Y/Y 27.9% v 23.8%e || Prior revised from 23.3% to 24.3%

·UK May PPI Output: M/M 1.6% v 0.8%e || Prior revised from 1.4% to 1.5% |||| Y/Y 8.9% v 7.9%e || Prior revised from 7.5% to 7.6%

·UK May PPI Output Core: M/M 1.2% v 0.4%e || Prior revised from 1.0% to 1.2% |||| Y/Y 5.9% v 4.8%

·EU June Sentix Investor Confidence: 5.2 v 3.9e

·RU Russian Central Bank raised the Refi Rate by 25bps to 10.75%

·RU Russian Central Bank raised the Deposit Rate by 25bps to 6.75%

·*** SPEAKERS/FIXED INCOME/FX/COMMODITIES/ERRATUM ***

·In sector rotation overnight Lehman downgraded their view on the European equities to underweight from overweight, cutting their weighting to 12% from 24%. Lehman upgraded their view on the
US equities to overweight from underweight, boosting their weighting to 52% from 42%.

·According to the Financial Times Deutsche Post [DPB.GE] is expected to begin the formal sale process for Postbank in the next few days. According to the article some value Postbank at about €10B. According to the Wall Street Journal Lehman (LEH) is near raising $5B in capital, and May report a $2B loss in the second quarter. The Wall Street Journal wrote overnight that JetBlue's (JBLU) LiveTV unit is planning to buy Verizon Communications' (VZ) Airfone Network.

·According to the Lundberg survey average regular gasoline prices rose to $4/gallon on June 6th (+$0.21 over May 16). According to the survey, oil prices of $139/barrel are sustained, gasoline prices could rise by $0. 30/gallon over the next few weeks. The Ecuadorian Oil Minister said overnight that he sees no need for OPEC to increase production. Goldman Sachs' Commodities Research Head said overnight that oil prices may hit $150/barrel this summer system, noting that demand for oil is weak, and supplies are even weaker. The Nigerian Oil Minister said overnight that OPEC cannot affect current oil price volatility, adding that a pre-Sept meeting would only fuel speculation. The Libyan oil minister reiterated overnight that oil prices are expected to break the $140-handle this month, adding that today's oil decline is a slight correction. The minister also said that the oil market is well supplied and does not warrant OPEC action.

·In fixed income noews overnight, during the ECB's post-rate announcement press conference last week the ECB's Trichet essentially confirmed that the ECB would raise interest rates at the July policy- setting meeting. This topic has since been widely discussed with some market commentators, such as Ambrose Evans-Pritchard from the Telegraph, comparing the believed to be imminent rate hike to the Bundesbank's ill- judged rate hike in 1987, which preceded the Black Monday crash after the Dollar fell into a tailspin. The 2/10-year inversion in
Germany has widened since the open on the back of safe haven buying into the short end of the curve as markets believe that an ECB rate hike will hurt global markets as well as the 2009 Euro-Zone growth outlook. The Bank of International Sentiments made some comments overnight noting that, although US and European central banks have sought to raise market liquidity, various monetary authorities have cut their holdings of fx reserves in the banking system. The BIS pointed out that interbank loans have declined since last August, adding that they sees a cautious return of risk tolerance emerging. Furthermore the BIS said that the ABX index may be overstating the projected losses on triple-A securities by more than 60% and the BIS sees such losses at $73B.

·According to the Wall Street Journal, on Friday, the top finance official for the
UK's opposition party met with the Fed's Bernanke. The report said that both parties discussed ways to prevent a repeat of the credit crisis. According to sources in Washington, the Financial Times wrote, US officials are concerned about the recent rise in the EUR/USD pair following Trichet's surprise comments last week. Some US officials believe that an ECB rate hike will undermine efforts to prevent the USD from falling further against the EUR. The article adds that currency fluctuations are expected to be discussed by the G8. The UAE Central Bank Chief said overnight that the GCC currency could be delayed beyond 2010, due to inflation. The Central Bank Chief added that the Dollar will remain currency of choice in sovereign foreign exchange reserves. Liam Halligan wrote in the Telegraph overnight that a decade on, the Euro-Zone is still enduring the co-ordination problems that have bedevilled it from the outset. France is set to grow almost 2% this year, Italy barely at all. The credit crunch has sent Spain into a tailspin, but Germany will probably muscle its way through. So where should the ECB set interest rates? Trichet hinted last week that with Euro-zone inflation now at 3.6% rates may need to rise. That may suit inflation-averse Germany, but it could crucify debt-driven nations such as Italy, Spain and Ireland. The ECB's policy headaches just got even worse. Trichet's clear signal on rates caused the Euro to rise, which sent the dollar crashing. However, that dollar fall, in turn, sent oil spiraling all the way to $139 a barrel. That, of course, raises Europe's energy costs, so provoking more Euro-zone inflation. Trichet merely compounded the problem he was trying to solve. As the downturn deepens, and political tensions rise, the policy needs of the region's very different major economies - to say nothing of the little ones - will somehow need to be reconciled. That is why I genuinely believe the euro may ultimately not survive. Currency unions have endured only when - like the UK and US - they've been fused after generations of political union and held together by a federal tax system. The euro, in contrast, is built on a series of policy conflicts, confusions and even delusions.

·On the speaker front overnight the IMF's Strauss-Kahn said overnight that he sees EMU 2008 GDP higher than expected, adding that the ECB is acting as needed to anchor inflation expectations. German Finance Minister Steinbrueck said overnight that inflation is expected to average 3. 0% in 2008, noting that he sees a high probability of 1.7% GDP growth in 2008. Steinbrueck added that inflation is likely to dampen growth in 2009. The Dutch Finance Minister said overnight that he is concerned about Euro Zone inflation, adding that we must not be too quick to urge action on Euro exchange rate.

·Looking ahead, there is only one economic release scheduled in the
US today, the April pending home sales, which are due out at 10:00 ET. There is no new supply today, however there are a few Fed speakers. The Fed's Geithner is scheduled to speak on monetary policy in New York at 12:15 ET, while the Fed's Rosengren is scheduled to speak at a banking conference at 17:00 ET. The Fed's Bernanke is scheduled to speak at the Boston Fed conference at 20:15 ET. Elsewhere the ECB's Noyer, and Trichet, as well as the SNB's Roth are all scheduled to speak throughout the US session.

 

Legal disclaimer and risk disclosure

All information provided by Trade The News (a product of Trade The News, Inc. "referred to as TTN hereafter") is for informational purposes only. Information provided is not meant as investment advice nor is it a recommendation to Buy or Sell securities. Although information is taken from sources deemed reliable, no guarantees or assurances can be made to the accuracy of any information provided. 1. Information can be inaccurate and/or incomplete 2. Information can be mistakenly re-released or be delayed, 3. Information may be incorrect, misread, misinterpreted or misunderstood 4. Human error is a business risk you are willing to assume 5. Technology can crash or be interrupted without notice 6. Trading decisions are the responsibility of traders, not those providing additional information. Trade The News is not liable (financial and/or non-financial) for any losses that may arise from any information provided by TTN. Trading securities involves a high degree of risk, and financial losses can and do occur on a regular basis and are part of the risk of trading and investing.



 

Forex Trading News

Forex Research

Daily Forex Market News
Forex news reports can be found on the forex research headlines page below. Here you will find real-time forex market news reports provided by respected contributors of currency trading information. Daily forex market news, weekly forex research and monthly forex news features can be found here.

Forex News
Real-time forex market news reports and features providing other currency trading information can be accessed by clicking on any of the headlines below. At the top of the forex blog page you will find the latest forex trading information. Scroll down the page if you are looking for less recent currency trading information. Scroll to the bottom of fx blog headlines and click on the link for past reports on forex. Currency world news reports from previous years can be found on the left sidebar under "FX Archives."



Elevate Your Trading With The Amazing Trader!

The Amazing Trader includes:
  • Actionable trading levels delivered to YOUR charts in real-time.
  • Live trading strategy sessions.
  • Market Updates with Trading Tools.

Register To Test Your Amazing Trader


Trading Ideas for 20 October 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Fri 20 Oct
12:30 CA- Retail Sales & CPI
14:00 US- Existing Homes Sales


Tue 24 Oct
All Day flash PMIs
Wed 25 Oct
01:30 AU- CPI
08:00 DE- IFO Survey
08:30 GB- GDP
14:00 CA- BOC Decision
14:30 US- EIA Crude
Thu 26 Oct
11:45 EZ- ECB Decision
12:30 US- Weekly Jobless
14:00 US- Pending Homes Sales
Fri 27 Oct
12:30 US- GDP
14:00 US- final Univ of Michigan

Forex Trading Outlook


Potential Trading Opportunities


  • POTENTIAL PRICE RISK: High Fri-- 12:30 GMT CA- Retail Sales and CPI. Top economic indicators.


  • POTENTIAL PRICE RISK: HIGH Fri-- 14:00 GMT US- Existing Homes Sales. Top Housing statistic.



John M. Bland, MBA
co-founding Partner, Global-View.com

EXCLUSIVE: Global-View Daily Trading Chart Points Updated

EXCLUSIVE: Global-View Free Forex Database updated




TRADER ADVOCACY ARTICLES

Trader's Advocate Articles..

pic

Retail Forex Brokerage Changing!

Are you looking for your first broker or do you need of a new one? There are more critical things to consider than you might have thought.

We were trading long before there were online brokers. Global-View has been directly involved with the industry since its infancy. We've seen everything and are up-to-data with recent regulatory changes.

Our Best Brokers listing section includes:Forex Broker Reviews, Forex Broker Directory, Forex Broker Comparisons and advice on How to Choose a Forex Broker

If would like guidance, advice, or have any concerns at all ASK US. We are here to help you.

SEE Our Best Brokers List

Currency Trading Tools

  • Live rates, currency news, fx charts. 

  • Research reports and currency forecasts.

  • Foreign Exchange database and history.

  • Weekly economic calendar.

Directory of  Forex trading tools

 
Terms of Use    Disclaimer    Privacy Policy    Contact    Site Map


Forex Forum
Forex Trading Forum
Forex Forum + forex rates
Forex Forum Archives
Forex Forum RSS
Free Registration

Trading Forums
Currency Forum Guide
Forum Directory
Open Forum
Futures Forum
Political Forum
Forex Brokers
Compare Forex Brokers
Forex Broker News
Forex Broker Hotline

Online Forex Trading
Forex Trading Tools
Currency Trading Tools
Forex Database
FX Chart Points
Risk/Carry Trade Chart Points
Economic Calendar
Quicklinks to Economic Data
Currency Futures Swaps
Fibonacci Calculator
Currency Futures Calculator

Forex Education
Forex Learning Center
FX Trading Basics Course
Forex Trading Course
Forex Trading Handbook

Forex Analysis
Forex Forecasts
Interest Rate Forecasts
Central Bank Forecasts

FX Charts and Quotes
Live FX Rates
Live Global Market Quotes
Live Forex Charts
US Dollar Index Chart
Global Chart Gallery
Daily Market Tracker
Forex News
Forex Blog
Forex News
Forex Blog Archives
Forex News RSS
Forex Services
Forex Products
GVI Forex
Free Trials
FX Bookstore
FX Jobs and Careers
Jobs USA
Jobs UK
Jobs Canada

Forex Forum

The Global-View Forex Forum is the hub for currency trading on the web. Founded in 1996, it was the original forex forum and is still the place where forex traders around the globe come 24/7 looking for currency trading ideas, breaking forex news, fx trading rumors, fx flows and more. This is where you can find a full suite of forex trading tools, including a complete fx database, forex chart points, live currency rates, and live fx charts. In addition, there is a forex brokers directory where you can compare forex brokers. There is also a forex brokers hotline where you can ask for help choosing a forex broker that meets your individual fx trading needs. Interact on the same venue to discuss forex trading.

Forex News

The forex forum is where traders come to discuss the forex market. It is one of the few places where forex traders of all levels of experience, from novice to professionals, interact on the same venue to discuss forex trading. There is also the GVI Forex, which is a private subscription service where professional and experienced currency traders meet in a private forex forum. it is like a virtual forex trading room. This is open to forex traders of all levels of experience to view but only experienced currency tradingprofessionals can post.

Currency Trading

Currency trading charts are updated daily using the forex trading ranges posted in the Global-View forex database. You will also find technical indicators on the fx trading charts, e.g. moving averages for currencies such as the EURUSD. This is another forex trading tool provided by Global-View.com.

Forex Brokers

The forex database can be used to access high, low, close daily forex ranges for key currency pairs, such as the EURUSD, USDJPY, USDCHF, GBPUSD, USDCAD, AUD, NZD and major crosses, including EURJPY, EURGBP, EURCHF, GBPJPY, GBPCHF and CHFJPY. Data for these currency trading pairs dating back to January 1, 1999 can be downloaded to an Excel spreadsheet.

Forex Trading

Forex chart points are in a currency trading table that includes; latest fx tradinghigh-low-close range, Bollinger Bands, Fibonacci retracement levels, daily forex pivot points support and resistance levels, average daily forex range, MACD for the different currency trading pairs. You can look on the forex forum for updates when one of the fx trading tools is updated.

FX Trading

Global-View also offers a full fx trading chart gallery that includes fx pairs, such as the EURUSD, commodities, stocks and bonds. In a fx trading world where markets are integrated, the chart gallery is a valuable trading tool. Look for updates on the Forex Forum when the chart gallery is updated.

Forex Blog

Global-View.com also offers a forex blog, where articles of interest for currency trading are posted throughout the day. The forex blog articles come from outside sources, including forex brokers research as well as from the professionals at Global-View.com. This forex blog includes the Daily Forex View, Market Chatter and technical forex blog updates. In additional to its real time forex forum, there are also Member Forums available for more in depth forex trading discussions.

 

WARNING: FOREIGN EXCHANGE TRADING AND INVESTMENT IN DERIVATIVES CAN BE VERY SPECULATIVE AND MAY RESULT IN LOSSES AS WELL AS PROFITS. FOREIGN EXCHANGE AND DERIVATIVES TRADING IS NOT SUITABLE FOR MANY MEMBERS OF THE PUBLIC AND ONLY RISK CAPITAL SHOULD BE APPLIED. THE WEBSITE DOES NOT TAKE INTO ACCOUNT SPECIAL INVESTMENT GOALS, THE FINANCIAL SITUATION OR SPECIFIC REQUIREMENTS OF INDIVIDUAL USERS. YOU SHOULD CAREFULLY CONSIDER YOUR FINANCIAL SITUATION AND CONSULT YOUR FINANCIAL ADVISORS AS TO THE SUITABILITY TO YOUR SITUATION PRIOR TO MAKING ANY INVESTMENT OR ENTERING INTO ANY TRANSACTIONS.

Copyright ©1996-2014 Global-View. All Rights Reserved.
Hosting and Development by Blue 105